IMF’s Lagarde to recommend approval of next Egypt loan tranche
The Director of the International Monetary Fund (IMF) Christine Lagarde stated Friday that she will recommend approving a fourth review of Egypt’s USD12bn loan programme, expected to unlock the disbursement of the USD2bn tranche. Lagarde said in a statement that the board will meet in the next few weeks to discuss the review. She commended Egypt’s authorities for reforms that have put the country’s budget deficit on a declining trajectory and that have helped reduce its unemployment rate to 10%, the lowest since 2011.
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